The global Aliphatic Hydrocarbon Solvents and Thinners Market is anticipated to grow from $ 3.6 billion in 2020 to $ 4.7 billion in 2025, at a compound annual rate of 4.7% during the forecast period 2020 to 2025.
Aliphatic hydrocarbon solvents do not have a benzene ring, but are mixtures of saturated paraffin, long straight chain (normal paraffin), branched chain (isoparaffin) or cyclic. Hydrocarbons of the alkanes, alkenes and alkynes series are aliphatic compounds, similar to fatty acids and many other compounds; therefore, aliphatic compounds are the opposite of aromatic compounds. In addition to their use as solvents or thinners in paints and thinners, they are widely used in oil extraction, degreasing, rubber manufacturing, and as carriers for aerosols and disinfectants. These compounds are also used as corrosion inhibitors. Most solvents can contain a combination or mixture of different aliphatic types or aliphatic or aromatic hydrocarbons depending on their end industrial applications.
Aliphatic Hydrocarbon Solvents and Thinners market will experience significant growth due to its wide use in the paint and coatings industry. The components are diluted in paints to facilitate mixing and reduce thickness. In addition, the ease application of the paint after mixing with the product will stimulate the growth of the industry. The growing oil and gas industry will drive the market for aliphatic hydrocarbon solvents and thinners. They are typically added to mineral spirits, petroleum naphtha, octane, and petroleum distillates to improve performance. The expansion of the automotive industry, population growth, increasing disposable income and increasing urbanization in developing countries are accelerating the demand for industrial rubber. The components play a vital role in the manufacture of rubber, they are applied in the production of tires to bond different parts and layers of rubber for durability. The growing demand for rubber in various industries will significantly boost the market for aliphatic hydrocarbon solvents and thinners.
Aliphatic Hydrocarbon Solvents and Thinners Market Trends
Aliphatic solvents are linked to the class of aliphatic compounds. Aliphatic solvents do not contain a benzene ring. These solvents are produced by distilling crude oil in the appropriate fraction of the boiling point range, then treated to improve their color and odor. The growth of the building and construction industry is attributed to the increasing application of aliphatic solvents as thinners and thinners in paints and coatings, thereby increasing its market. It is estimated that in the UK between 27,000 and 50,000 new homes are being built year on year as of 2020 which in turn increases the reach of this market. The increasing demand for paints and coatings from the automotive industry and other industries in turn increases the application of aliphatic hydrocarbon solvents and thinners. Therefore, the increasing application of paints and coatings in buildings and the construction industry in countries such as China, United Kingdom, United States, India and Japan are playing an important role on this market.
In August 2019, Sun Chemical launched the first UV flexographic ink concentrate and technology varnish system for standard UV flexo dispensers and showcasing a full portfolio of narrowband solutions at Labelexpo 2019. Sun Chemical will showcase its full portfolio of solutions for restricting packaging and web label markets and showcase your latest product and service innovations. Through the wide range on display, Sun Chemical will also demonstrate its commitment to sustainability, which remains at the heart of its innovation and product development, as the world's largest producer of printing inks and pigments.
In September 2020, Siegwerk presented new UV flexographic varnishes and destintable offset inks. Siegwerk, a German printing ink supplier, has launched a new series of UV offset varnishes and UV flexographic inks for commercial printing and packaging. With deinking properties, new UV flexographic varnishes and offset inks have been developed to help improve the recyclability of UV coated paper and cardboard packaging.
Aliphatic Hydrocarbon Solvents and Thinners Market Drivers
The aliphatic hydrocarbon solvent and thinner components are diluted in paints to facilitate mixing and reduce thickness. In addition, the ease of application of the paint after mixing with the product will stimulate the growth of the industry. The expansion of the automotive industry, population growth, increasing disposable income and increasing urbanization in developing countries are accelerating the demand for industrial rubber. The component plays an essential role in the manufacture of rubber; they are applied in the production of tires to bond different parts and layers of rubber for greater durability. The growing demand for rubber in various industries will significantly boost the market for aliphatic hydrocarbon solvents and thinners. The product is widely used as a carrier for aerosols and disinfectants. Improper handling of the aerosol can have serious consequences which may lead to harmful effects on humans and their environment.
Aliphatic Hydrocarbon Solvents and Thinners Market Restraints
Personnel working in the diluents and aliphatic solvents manufacturing units are in constant contact with solvents which can damage the nervous, reproductive and respiratory systems. Restrictive regulations on the use of solvents have made organic solvents an attractive option for manufacturers of aliphatic solvents and diluents.
Opportunities in the Aliphatic Hydrocarbon Solvents and Thinners Market
Real estate activities have experienced significant growth coupled with rapid industrialization in the Middle East. Countries like Saudi Arabia and the United Arab Emirates want to reduce their dependence on the oil industry for economic growth and focus on other industries. Therefore, the construction sector has experienced significant growth in the Middle East. The construction industry has a need for paints and coatings, cleaning and degreasing agents, and adhesives, which in turn creates a demand for aliphatic hydrocarbon solvents and thinners.
Challenges in the Aliphatic Hydrocarbon Solvents and Thinners Market
Adverse effects on human health may restrict the market for aliphatic hydrocarbon solvents and thinners. Its short-term exposure causes dizziness, headache and irritation of the skin, eyes and loss of consciousness. Its prolonged exposure causes muscle weakness, distorted vision, lung and skin damage, numbness, fatigue and neurological disorders. In addition, strict government regulations on these products can slow the growth of the industry.
Aliphatic Hydrocarbon Solvents and Thinners Market Segmentation as per the research report until 2025.
The naphtha segment of varnish manufacturers and painters held a significant share of the global aliphatic hydrocarbon solvents and thinners market in 2021. Cleaning and degreasing are the growth drivers of this market segment. The varnish and naphtha painters has a large number of applications in which it can be used. It is used as a thinner for paints and coatings, as a solvent in the cracking of hydrocarbons, in laundry soaps, organic chemistry, cleaning fluids and various other applications.
The paints and coatings segment held a significant share of the global aliphatic hydrocarbon solvents and thinners market in 2020, with a CAGR of 3.16% during the forecast period. The growth of the building and construction industry is contributing to the increasing application of aliphatic hydrocarbon solvents and thinners in paints and coatings, thereby increasing its market.
Middle East & Africa
The Asia-Pacific region is expected to dominate the aliphatic hydrocarbon solvents and thinners market during the forecast period. Due to the high demand for applications from countries such as China, India and Japan, the market for aliphatic hydrocarbon solvents and thinners has grown. The largest producers of aliphatic hydrocarbon solvents and thinners are in the Asia-Pacific region. In 2020, the Indian government announced an investment of 31.740 billion USD for the construction of 110 cities, as part of the smart cities plan. It is likely that 100 smart cities and 500 cities will invite investments worth INR 2.1 trillion (~ USD 28.28 billion) over the next five years, creating space for the application of aliphatic hydrocarbon solvents and thinners in paints and coatings. The Chinese government has implemented massive construction plans, including provisions for the displacement of 260 million people to its new mega-cities, over the next ten years, creating a significant field of action for construction activities, thus increasing the market for solvents and thinners of aliphatic hydrocarbons in the next ten years. In addition to paints and coatings, these aliphatic hydrocarbon solvents and thinners are also used in adhesives and sealants, in rubber manufacturing and others which have multiple applications. The above factors, along with government support, are likely to be contributing to the demand of the market for aliphatic hydrocarbon solvents and thinners in the forecast period of 2021 to 2026.
Impact of COVID-19 on Aliphatic Hydrocarbon Solvents and Thinners Market
It is estimated that the coronavirus pandemic will have a major impact on aliphatic hydrocarbon solvents and thinners end-use industries, particularly in 2020-2021. The demand for cars and utility vehicles is supposed to decline in 2020 and 2021. More than 83% of automotive production in North America has ceased due to the COVID-19 pandemic. Europe and Asia-Pacific are experiencing a similar situation. Companies such as Ford, General Motors, Fiat Chrysler Automobiles, Honda and Tesla have temporarily halted production. Even if these companies resume production after the end of the pandemic, economic instability and reduced purchasing power of consumers will have a negative effect on the auto industry. The impact of COVID-19 on the construction industry is expected to vary by region of the world. The IMF has predicted that there will be heavy layoffs in construction and other industries in the United States. In Europe, the building and construction sector is expected to contract between 62% and 73% in 2021.
Aliphatic Hydrocarbon Solvents and Thinners Market Key Players:
Key players in the global aliphatic hydrocarbon solvents & thinners market are Mitsubishi Shoji Chemical Corporation, Royal Dutch Shell, Calumet specialty Products Partners, SK Global Chemical Co. Ltd., ExxonMobil Chemical, Hi Tech Chemicals, Kandla Energy & Chemicals Limited, Umwelt Chemicals and Merck.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Varnish Makers & Painter's Naphtha
5.1.3 Miniral Spirits
5.1.6 Y-o-Y Growth Analysis, By Type
5.1.7 Market Attractiveness Analysis, By Type
5.1.8 Market Share Analysis, By Type
5.2.2 paints & Coatings
5.2.3 Cleaning & Degreasing
5.2.6 Rubber & Polymer
5.2.7 Y-o-Y Growth Analysis, By Application
5.2.8 Market Attractiveness Analysis, By Application
5.2.9 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Application
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Application
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Royal Dutch Shell Plc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Calumet Specialty Products Partners
8.3 SK Global Chemical Co. Ltd.
8.4 ExxonMobil Chemical
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of by type,by application, along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Global Aliphatic Hydrocarbon Solvents & Thinners Market By Region, From 2018-2023 ( USD Billion )
Global Aliphatic Hydrocarbon Solvents & Thinners Market By Type, From 2018-2023 ( USD Billion )
Global Varnish Makers & Painter's Naphtha Market By Region, From 2018-2023 ( USD Billion )
Global Mineral Spirits Market By Region, From 2018-2023 ( USD Billion )
Global Hexane Market By Region, From 2018-2023 ( USD Billion )
Global Heptane Market By Region, From 2018-2023 ( USD Billion )
Global Aliphatic Hydrocarbon Solvents & Thinners Market By Application, From 2018-2023 ( USD Billion )
Global Paint & Coatings Market By Region, From 2018-2023 ( USD Billion )
Global Cleaning & Degreasing Market By Region, From 2018-2023 ( USD Billion )
Global Adhesives Market By Region, From 2018-2023 ( USD Billion )
Global Aerosols Market By Region, From 2018-2023 ( USD Billion )
Global Rubber & Polymer Market By Region, From 2018-2023 ( USD Billion )